SEBI Securities Dealers (Amendment) Regulations 2022, notified
The Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022.
According to the notification, “Professional Clearing Member” means a Member having clearing and settlement rights in a recognized clearing company, but having no trading rights in a recognized stock exchange.
The Notification further amended Annex V to include that this Annex applies to every securities broker that trades in the electronic gold receipt segment and to every Clearing Member/Self-Clearing Member that clears and settles transactions in the electronic gold receipt segment, from the date of grant of listing.
It also amended Schedule VI and provided that the stockbroker shall have such net worth and shall deposit with the stock exchange such sum as may be specified by the board/stock exchange from time to time. In addition, the amount of net worth and deposit to be maintained by the Trading Member/Self-Clearing Member/Clearing Member/Professional Clearing Member, trading/clearing and settling securities transactions, is as specified in Tables 1 and 2 of this Program.
Support our journalism by subscribing to Taxscan ad-free. follow us on Telegram for quick updates.